{"id":194915,"date":"2023-08-16T11:45:00","date_gmt":"2023-08-16T15:45:00","guid":{"rendered":"https:\/\/ibkrcampus.com\/?p=194915"},"modified":"2023-08-16T12:18:08","modified_gmt":"2023-08-16T16:18:08","slug":"yen-and-yang","status":"publish","type":"post","link":"https:\/\/www.interactivebrokers.com\/campus\/traders-insight\/securities\/macro\/yen-and-yang\/","title":{"rendered":"Yen And Yang"},"content":{"rendered":"\n<h2 class=\"wp-block-heading\" id=\"h-what-s-going-on\">What&#8217;s going on?<\/h2>\n\n\n\n<p>Data out on Tuesday&nbsp;<a href=\"https:\/\/www.bnnbloomberg.ca\/japan-s-economy-expands-more-than-expected-on-export-gains-1.1958922\">showed<\/a>&nbsp;that Japan\u2019s economy outstripped expectations last quarter, with exports balancing out weak domestic demand.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\" id=\"h-what-does-this-mean\">What does this mean?<\/h2>\n\n\n\n<p>Japan\u2019s economy dazzled last quarter, boasting 6% annualized growth \u2013&nbsp; its strongest showing since late 2020. And that wasn\u2019t just a minor win for the country: it was actually&nbsp;<em>double<\/em>&nbsp;what analysts had on their charts. Exports did a lot of the heavy lifting there, with auto shipments to the US and Europe taking the lead. And the limping Japanese yen, near its weakest in decades, meant those takings packed an even bigger punch when brought home. Tourism made a comeback too, recapturing over two-thirds of its pre-pandemic buzz. But not everything\u2019s in full bloom: domestic consumption, which forms the heart of Japan\u2019s economy, took a 0.5% hit. That comes as businesses and consumers alike are tightening their belts, now that the ghost of inflation, after years of no-shows, is spooking spenders.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\" id=\"h-why-should-i-care\">Why should I care?<\/h2>\n\n\n\n<p><strong><em>The bigger picture:<\/em><\/strong><em>&nbsp;Leaning on friends.<\/em><\/p>\n\n\n\n<p>While Japan\u2019s recent economic glow-up is commendable, it\u2019s mostly fueled by external demand. And that\u2019s a little bit risky, given that Western economies \u2013 which drove a lot of this growth \u2013 are facing their own set of challenges at the moment. At any rate, economists think this export-driven momentum might not last \u2013 and if they\u2019re right, Japan could find itself in a tricky spot. Given that backdrop, it\u2019s unlikely we\u2019ll see the central bank pulling back on its hefty stimulus measures anytime soon, as some were speculating.<br><br><strong><em>Zooming out:&nbsp;<\/em><\/strong><em>Peas in a pod.<\/em><\/p>\n\n\n\n<p>Japan isn\u2019t alone in its domestic demand dilemma. After all, China\u2019s recent data revealed a similar problem, with retail sales growing surprisingly slowly in July. But China\u2019s already making moves: on Tuesday its central bank made the biggest&nbsp;<a href=\"https:\/\/www.bnnbloomberg.ca\/china-cuts-key-rate-by-most-since-2020-as-economic-woes-deepen-1.1958967\">cut<\/a>&nbsp;to a key interest rate since 2020, in a bid to give the economy the boost it clearly needs.<\/p>\n\n\n\n<p>&#8212;<\/p>\n\n\n\n<p>Originally Posted August 15, 2023 &#8211; <a href=\"https:\/\/go.finimize.com\/wp\/news\/yen-and-yang\/\">Yen And Yang<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Data out on Tuesday\u00a0showed\u00a0that Japan\u2019s economy outstripped expectations last quarter, with exports balancing out weak domestic demand.<\/p>\n","protected":false},"author":186,"featured_media":0,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[4,18,8,9,26,3],"tags":[196,9362,1631],"contributors-categories":[13597],"class_list":{"0":"post-194915","1":"post","2":"type-post","3":"status-publish","4":"format-standard","6":"category-asia","7":"category-macro","8":"category-region","9":"category-securities","10":"category-text-articles","11":"category-traders-insight","12":"tag-asia","13":"tag-economic-outlook","14":"tag-japan","15":"contributors-categories-finimize"},"pp_statuses_selecting_workflow":false,"pp_workflow_action":"current","pp_status_selection":"publish","acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v26.9 (Yoast SEO v27.4) - https:\/\/yoast.com\/product\/yoast-seo-premium-wordpress\/ -->\n<title>Yen And Yang | Traders&#039; Insight<\/title>\n<meta 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